A 39-year-old man from Ngunnawal has been charged after he allegedly stole a taxi at knifepoint and led police on a chase through multiple Belconnen suburbs early on Sunday.

Police say the man got into the taxi on Bunda Street, Civic, at about 2am and allegedly threatened the driver with a knife. The driver fled on Alinga Street and called police.

The 39-year-old man drove off in the taxi. It was later located in Macquarie, where police say it was speeding and crossing on to the wrong side of the road.

The pursuit ended in Whitlam when the taxi mounted a kerb and came to a stop.

The man was arrested and later charged with taking motor vehicle without consent, possessing a knife without reasonable excuse, unlicensed driving and reckless driving. He is expected to appear in the ACT Magistrates Court on Monday.